Life Insurance in South Dakota

Life insurance is a crucial consideration for anyone who is concerned about the future of their beloved ones and wants to protect them from unknown circumstances. However, before purchasing life insurance, the residents of South Dakota should educate themselves on the state standards and regulations.

Life Insurance Regulations and Standards

Life insurance in South Dakota is regulated on the state level by the Codified Laws document. It is a set of laws created to protect businesses and their consumers, which sets the rules for policy requirements and claims procedures. Here are the key parts of the state document highlighted by Wilcoxon Insurance, Inc., located in Sioux Falls, SD:

All life insurance in the state must have a 10-day free-look period. It is a test period, during which consumers have a right to try the policy for ten days, review it, and then return it for a full refund if they want to. A 10-day period is a minimum, while insurance companies may have longer periods, depending on their policies.
After filing an insurance claim, an insurance company has two months to make a payment to the customer. If the insurance company does not make the payment on time, it will face penalties.
Privacy protection is the number one priority. This means that insurance companies are not allowed to share their customers' personal information with any other institution or agency. An insurance company must honor its customer's request for personal data but is not allowed to share it with anyone else.
If an insurance company becomes insolvent, a life insurance policy will be backed by the state Life and Health Insurance Guaranty Association.

Buying life insurance is one of the most important financial decisions in a person's life, and Wilcoxon Insurance, Inc., located in Sioux Falls, SD, is here to help you. Call us today to discuss the options and policies available.

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Contact Us

4804 S. Minnesota Ave., Ste 103
Sioux Falls, SD 57108
605-271-6600
agencysupport@wins.agency

1909 S Palmetto St
Sioux City, IA 51106
712-639-0020

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Servicing States

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Testimonials

"Almost a year ago I started working with Scott and he saved me a little over $400 on the year to switch. Recently I bought a house and not only did Scott save me more money on auto but he also got me the best price on home owners as well. While shopping I was approached and quoted for other insurance and Scott took the time to get on the phone and walk me through the coverages being offered line by line. One of the competitors had a great coverage options and is a large recognized brand he beat the coverage and cost (by $400/yr) the other competitor was a less recognizable brand and was "offering me the best deal at the lowest cost" and upon reading through the options with Scott it was not as advertised ... and you guessed it Scott beat there cost too. Best service I've ever had and I can't recommend Scott enough."

Zach Lewallen

"When I began to shop around for a new insurance company I had two requirements— affordability & top notch customer service. When I sat down and discussed coverage with Jack I knew I found exactly that. It started with all the welcoming faces in the office and ended with the numbers I was presented. Jack even gave me a call a few days after to follow up and make sure all my questions were answered and that I was satisfied with my coverage. If you’re looking for an insurance company that is going to treat you like a valued customer look no further."

Caden D

"Will absolutely never go through anyone else for insurance. Myself and many people I know go here for insurance and I have yet to run into a negative experience! Highly recommend!"

Jackson Doeden

"First time any insurance company has taken the time to sit down with us (30 years of getting insurance) and walk through our policies. We saved time, money and got great customer service. Very highly recommended!

Jessica Beavers

"Great people to work with. They were able to get me better coverage for a fraction of the price I was currently at. Blake was great to work with and was very knowledgeable. I would recommend Wilcoxon Insurance for all your Insurance needs."

Mike Wilson

"Jack and his team are the best! They have taken care of me and my insurance for years and always go above and beyond. Great rates, and great people."

Trevor Thielke

"Service Excellence at its finest! I recently had an issue with my vehicle and needing it towed and our insurance agent at Wilcoxon Insurance took care of the matter immediately! Taylor was a great resource and took good care of us!"

Deb Salava

"Everyone is extremely knowledgeable, friendly and helpful. I felt like they really were interested in what the best options were for me! Highly recommended."

Katherine Kaufman

"Taylor did an outstanding job and saved us a lot of money! I have referred him many professionals and he has treated them with respect and was able to earn their business as well! I strongly recommend Taylor and Wilcoxn Insurance Agency."

Mike Salava

"Always looking for the best ways to put clients in a better position with better protection at a reasonable price! Their customer service is extremely friendly and helpful, I won’t be switching my insurance anytime soon!"

Emily Aanenson

"I’ve had a great experience working with Blake and the rest of the team at Wilcoxon insurance. They make the experience personal and do a great job of explaining everything in a way that’s easy to understand."

Tony Pap

"Blake was able to get me a great deal on my insurance and is always quick to answer any questions that come up. Would definitely recommend to anyone looking for homeowners and car insurance."

Matthew Wittrock

"Easy to work with and great prices!"

Jason Berg